Research topics are designated each year and form the basis of topics at the yearly IIS Meeting.

A CALL for PAPERS is issued on key insurance websites, including the IIS and The Geneva Association websites in June of the year prior to the award year (2004 for 2005 papers).

A panel of business and academic judges appointed by the organizations select final papers in March.

Awards up to $10,000 are presented for up to three outstanding papers each year at the yearly meeting of the IIS in July (held in Hong Kong in 2005).

Papers are presented at the IIS meeting.

Papers are published in a special edition of The Geneva Papers on Risk and Insurance- Issues and Practices.